Treasury Department Tells US Banks to Flag Suspected Iranian Money-Laundering Networks
Treasury says Iranian oil firms moved about $4 billion in 2024 as banks are urged to spot shell companies, crypto routes and disguised shipments.
- On Monday, the Treasury Department directed U.S. banks to monitor and flag customers suspected of laundering money for Iran, specifically targeting Revolutionary Guard-linked firms to disrupt sanctions-evasion infrastructure.
- A Treasury Financial Crimes Enforcement Network report released Monday revealed oil firms linked to Iran conducted roughly $4 billion in transactions in 2024, with shipping companies processing about $707 million through U.S. accounts.
- Banks are being asked to watch for indicators including transactions connected to Iranian crypto firms, missing shipping documents, and oil labeled "Malaysian blend" to disguise its origin.
- In April, the Treasury sent letters to financial institutions in China, Hong Kong, the UAE, and Oman threatening secondary sanctions for doing business with Iran to compel international cooperation.
- President Donald Trump said Monday the Iran ceasefire is on "life support" after he rejected Tehran's latest proposal, intensifying an economic-focused effort to pressure Tehran alongside bombing campaigns.
29 Articles
29 Articles
Treasury Department tells US banks to flag suspected Iranian money-laundering networks - The Boston Globe
The move, which effectively deputizes the global financial system to help disrupt Iran’s sanctions-evasion infrastructure, comes as the US and Iran reached another impasse over how to end their war.
Associated Press News
Treasury Department tells US banks to flag suspected Iranian money-laundering networks
The Treasury Department wants U.S. banks to monitor suspected Iranian money laundering networks. These networks allegedly use funds to smuggle sanctioned oil through shell companies and crypto networks.
Treasury Department tells U.S. banks to flag suspected Iranian money-laundering networks
The Treasury Department wants U.S. banks to monitor suspected Iranian money laundering networks. These networks allegedly use funds to smuggle sanctioned oil through shell companies and crypto networks. The move aims to disrupt Iran’s sanctions-evasion infrastructure.
This step comes at a time when the U.S. and Iran have reached a new impasse on how to end their war.
Coverage Details
Bias Distribution
- 56% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
